California picks up (kind of) where the Feds left off

Ok, it looks like there will be no extension of the federal homebuyer tax credit, BUT mark your calendars.  Beginning May 1, California will be offering a $10,000 homebuying tax credit.

Jonas Kruckenberg wrote a great article at Wannanetwork.com on all of the highlights.

This program would apply to any taxpayer buying a new home and a first-time homebuyer buying an existing or new home.  The purchase must be a “qualified principal residence”.  $200 million of state money has been set aside for this program and it is based on a first come, first serve basis.

This program may help up to 20,000 homebuyers.  Check out the full article at the above link.

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